10 Jan, 2019
How to save money for your first home loan
First Home Buyers Loan,Home Loans,Investment Loans Comments Off on How You Can Save Money For Your First Home Loan?

Ready To Save Money for Your First Home

Is House Sitting a Possible Solution?

I know that you’re thinking, clearly, there is more than 1 way to skin a cat! How can house-sitting put money into your bank account ready for that deposit?

This article forms part of a series of articles that can assist in ideas that help you save money for your first home!

Experience will soon tell you that the amount of rent you pay each year quickly adds up and certainly slows down your ability to save a deposit towards your first home. So how can you avoid paying rent without getting into trouble? Living at home with family is certainly an option for some but not for others, and there is only so long that your best friend will let you sleep on their couch, so what else can you do?

House sitting is an innovative way of saving for your first home.

So, What Is House Sitting And How Does It Work?

Firstly, let’s consider that pets are part of families in today’s modern world and with more and more people travelling for vacation and to visit family, home owners and pet owners are turning to minders to care for their home and pets while they are away.

Recognising this need, online companies that match house sitters with holiday makers looking for someone to look after their home and their pets are now readily available on the internet. Sites like Aussie house sitters, housitters.com.au and mindahome.com.au are some of the sites available, that match individuals needing their house and pets minded with individuals that are prepared to fulfil these roles.

Online companies generally charge house sitters a yearly fee to gain access to their sites for 12 months, therefore for as little as $59 you can register to mindahome.com.au and be on your way to your first house sitting assignment.

Importantly, under these arrangements, house sitters live rent free as part of the engagements and here lies the opportunity for young individuals or couples to save money and avoid their weekly rent bill. Naturally, you should take this responsibility seriously as homeowners in return need their house and pets cared for in their own home rather than pet hotels, kennels, etc.

House sitting engagements can vary from weekends through to 6 months and more depending on the job, however whilst this is fantastic, you need to consider that between each job you are likely to experience a gap, therefore you will possibly need a place to stay in between jobs.

Like everything else, there will be challenges associated with house sitting, however many house sitters are claiming that their savings have gone beyond just rent. Naturally you will save on electricity, gas, water and insurances.

Furthermore, many house sitters have found that the duties of house cleaning, walking pets and gardening are eating into time the free time that would otherwise result in spending money.

Depending on your discipline and attitude, it is possible to save another 50% more than just rent when you are minding someone’s home and caring for their pets.

So How Do You Prepare To Become A House Sitter?

Naturally, home owners looking for a house sitter will seek the best possible person hence your references and previous experience will be a major factor to their selection.

To start the ball rolling, you may consider house sitting for family and friends, preferably ones that have pets. Identify the little things that you can do which add value to the home owner which are not always obvious. Ensure you obtain a reference from each person and you start to prepare a profile on yourself that can be shared with potential clients.

References from previous landlords or agents that have managed a property you have rented will also be well received by home owners.

Providing home owners, a Police check is probably another way in which you can promote yourself and possibly stand out more than someone else who is looking to get the same job.

We hope this adds another possible idea for a side a hustle that can help you save money to be used as a deposit for your first home.

The Team at Brisbane Home Loans are available to assist you in preparing yourself for your first home loan application, and are available to assist and guide you through the process.